Credit Suisse has won a US government exemption enabling it to continue managing billions of dollars in pension fund assets, following its guilty plea in a US court last year.

The US Department of Labor granted Zurich-based Credit Suisse a new exemption that covers some entities affiliated with the bank until November 2019, and covers others related to the bank until November 2024, according to a document posted online and scheduled to be published in the federal register on Friday. The bank's current, temporary exemption had been slated to expire next month.